ADB invests $15m in Georgia’s 1st sustainability bond

The Asian Development Bank (ADB) has invested $15 million as an anchor investor in BasisBank’s $20 million sustainability bond issuance, marking the first certified sustainability bond by a commercial bank on the Georgian Stock Exchange.

The bond will support green and social sector projects, adhering to the International Capital Market Association’s Sustainability Bond Guidelines and validated by Det Norske Veritas.

This investment, part of BasisBank’s pioneering $20 million bond, demonstrates a commitment to sustainable finance, combining green and social bond principles. Arranged by TBC Capital and Galt and Taggart, the bond aims to bridge financing gaps and promote sustainable growth.

ADB’s Private Sector Director General, Suzanne Gaboury, emphasised the bond’s role in enhancing Georgia’s capital market and increasing awareness of thematic bonds.

Georgia has recently updated its climate commitments under the Paris Agreement and mandated the application of the Sustainable Finance Taxonomy for banks.

BasisBank, Georgia’s fourth-largest bank, supports sustainable financing and is a leader in SME financing. The bank, which manages a loan portfolio of 2,684 million lari, operates 39 branches serving approximately 200,000 customers.

Attribution: The Asian Development Bank (ADB)